Brown & Brown, Inc. (NYSE:BRO) Given Average Recommendation of “Hold” by Analysts

Shares of Brown & Brown, Inc. (NYSE:BRO) have earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $100.00.

BRO has been the topic of a number of analyst reports. Wells Fargo & Company raised Brown & Brown from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $94.00 to $112.00 in a research note on Monday, August 12th. Keefe, Bruyette & Woods lifted their price target on Brown & Brown from $86.00 to $92.00 and gave the company an “underperform” rating in a report on Friday, July 26th. UBS Group increased their price objective on shares of Brown & Brown from $91.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Raymond James upped their price target on shares of Brown & Brown from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Truist Financial lifted their price target on shares of Brown & Brown from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th.

Insider Activity at Brown & Brown

In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now owns 88,445 shares in the company, valued at approximately $8,872,802.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Brown & Brown news, CFO R. Andrew Watts sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.32, for a total value of $250,800.00. Following the transaction, the chief financial officer now directly owns 88,445 shares of the company’s stock, valued at approximately $8,872,802.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Hyatt J. Brown sold 134,640 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $104.51, for a total value of $14,071,226.40. The disclosure for this sale can be found here. Company insiders own 17.02% of the company’s stock.

Institutional Trading of Brown & Brown

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in shares of Brown & Brown in the 2nd quarter valued at approximately $12,607,000. Cetera Investment Advisers boosted its holdings in Brown & Brown by 60.6% in the second quarter. Cetera Investment Advisers now owns 27,338 shares of the financial services provider’s stock worth $2,444,000 after purchasing an additional 10,313 shares during the period. Truist Financial Corp raised its holdings in shares of Brown & Brown by 392.3% during the second quarter. Truist Financial Corp now owns 472,953 shares of the financial services provider’s stock worth $42,287,000 after purchasing an additional 376,892 shares during the period. HWG Holdings LP acquired a new stake in shares of Brown & Brown during the second quarter worth $3,670,000. Finally, EP Wealth Advisors LLC boosted its holdings in shares of Brown & Brown by 21.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 11,725 shares of the financial services provider’s stock valued at $1,048,000 after buying an additional 2,065 shares during the period. 71.01% of the stock is owned by institutional investors.

Brown & Brown Stock Performance

NYSE BRO opened at $104.61 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.56. Brown & Brown has a 12-month low of $66.73 and a 12-month high of $106.02. The stock has a market capitalization of $29.84 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.44 and a beta of 0.83. The business’s 50 day moving average is $98.04 and its two-hundred day moving average is $90.38.

Brown & Brown (NYSE:BRO) last announced its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.88 by $0.05. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. Brown & Brown had a return on equity of 17.00% and a net margin of 21.95%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 EPS. Research analysts expect that Brown & Brown will post 3.68 EPS for the current year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.50%. Brown & Brown’s payout ratio is currently 16.00%.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.